Short answer. Yes. The Civil Code lets a partnership acquire land, or an interest in land, in the partnership name itself, and title held that way can be transferred only in that same name. The firm, not the individual partners, is treated as the owner of record.
What the law says
Any immovable property or an interest therein may be acquired in the partnership name. Title so acquired can be conveyed only in the partnership name.
Civil Code, Article 1774 — Property in the Partnership Name. Read the full provision →
The partnership is treated as an owner
Article 1774 settles a question that confuses many people who go into business together: the partnership can hold land in its own name. The Code says any immovable property or an interest therein may be acquired in the partnership name. That covers not only full ownership of a lot or building but also lesser interests — a usufruct, a long lease registered as a real right, an undivided share. The land does not have to be bought and held under one partner's personal name and then informally shared. The registered owner on the title can be the firm itself.
Why the name on the title matters
The second sentence carries the real force: title so acquired can be conveyed only in the partnership name. If the property was acquired in the firm's name, no single partner can sell, mortgage, or donate it as though it were his own; the disposition must be made in the partnership name, through whoever is authorised to act for the firm. This protects the other partners and anyone dealing with the partnership, because it keeps one person from quietly stripping an asset that belongs to the venture. A conveyance done in an individual's name instead of the firm's is exposed to challenge.
Authority to buy and to sell
Holding land in the partnership name does not mean any partner may act alone. Who can bind the firm to buy or sell depends on the partnership agreement and on the general rules on a partner's authority to manage. Real property is usually outside the ordinary course of a small firm's daily business, so the safer course is a clear resolution or a written authority naming the partner who will sign. Buyers and lenders will ask for it. A sale signed by a partner who was never authorised leaves the transaction open to attack by the firm.
Practical points before you buy
If the firm intends to own land, make sure the partnership actually exists in a form that can be reflected on a certificate of title, and that the acquiring document names the partnership as buyer. Keep the agreement, any authority to purchase, and the firm's records together, because these are what a registry, a lender, or a later buyer will want to see. Note too that constitutional limits on land ownership by entities with foreign members apply to partnerships as much as to companies, so the citizenship of the partners can decide whether the firm may hold land at all.